Van ECK Associates Corp Reduces Holdings in SilverCrest Metals Inc. (NYSE:SILV)

Van ECK Associates Corp reduced its position in shares of SilverCrest Metals Inc. (NYSE:SILV - Free Report) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,031,300 shares of the company's stock after selling 2,637,666 shares during the period. Van ECK Associates Corp owned about 8.77% of SilverCrest Metals worth $106,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in SilverCrest Metals by 5,624.4% during the 1st quarter. Tidal Investments LLC now owns 4,352,930 shares of the company's stock worth $28,991,000 after buying an additional 4,276,888 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SilverCrest Metals during the second quarter worth $2,467,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of SilverCrest Metals by 6.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 139,726 shares of the company's stock worth $1,139,000 after purchasing an additional 8,182 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in SilverCrest Metals by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 89,419 shares of the company's stock valued at $729,000 after purchasing an additional 2,744 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in SilverCrest Metals by 12.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 63,990 shares of the company's stock worth $426,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 44.75% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SILV. Stifel Nicolaus increased their price target on SilverCrest Metals from $9.75 to $11.25 and gave the company a "buy" rating in a research note on Wednesday, May 15th. Scotiabank increased their target price on shares of SilverCrest Metals from $8.50 to $9.00 and gave the company a "sector perform" rating in a research report on Monday, August 19th.

SilverCrest Metals Trading Down 1.8 %

SILV stock traded down $0.15 during midday trading on Friday, hitting $8.27. The stock had a trading volume of 652,607 shares, compared to its average volume of 1,519,595. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 9.96 and a beta of 1.20. The company's fifty day moving average price is $8.78. SilverCrest Metals Inc. has a 1-year low of $4.26 and a 1-year high of $10.27.

SilverCrest Metals (NYSE:SILV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.13). The business had revenue of $72.74 million during the quarter. SilverCrest Metals had a net margin of 40.61% and a return on equity of 25.66%. Analysts predict that SilverCrest Metals Inc. will post 0.65 EPS for the current fiscal year.

SilverCrest Metals Company Profile

SilverCrest Metals Inc focuses on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The company's properties consist of Las Chispas property. SilverCrest Metals Inc is headquartered in Vancouver, BC.